Extract from Committee stage (Lords) (day 1) of the Nuclear Safeguards Bill - Feb 22

Lord Hutton of Furness (Lab): ...The industry—I believe I can speak on behalf of it today—would much prefer that outcome to any other on offer. It offers the one thing the industry wants, which is continuity and certainty. The other option involves risk, challenge and uncertainty, which are profoundly bad for business. Much of our international civil nuclear business is dependent on the nuclear co-operation agreements that the noble Viscount referred to, and, crucially, our agreement with the United States. But let us not lose sight of one important factor. Sizewell B produces about 7% or 8% of our electricity. That power plant simply could not be maintained if it was not for the NCA that we have with the United States. It is a Pressurised Water Reactor and the key components are US technology. If the NCA falls in March 2019 because we have not reached a transitional agreement with Euratom and we have not been able to set up the ONR with an internationally recognised nuclear safeguarding arrangement, I and many others do not see how we will be able to continue with many of these transfers of skills and technology that we depend on now...

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